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Specialist lender aqua card creates quiz to clear up credit confusion

aqua card, provider of credit cards for bad credit, has released a new online quiz today, which aims to teach the UK public about personal credit rating.

It tests users’ knowledge by presenting true or false questions on ten key credit-related topics, such as how bankruptcy, missed payments, savings and divorce could affect your credit score; building the user's understanding of how credit rating works.

The quiz further cements aqua card’s commitment to educating the British public about credit issues and follows the release of a series of infographics which explain the UK's, complex credit rating system and the impact that moving house can have on consumers’ credit rating.

Emma Davis, an online manager at aqua card says: "With around 165,000 online searches made each month in the UK for the phrase: 'What is credit rating?', it's clear that lots of people want to under the system better. Our new quiz will hopefully help people to do this."

Research recently revealed that the UK average personal debt is £7,388 and the average amount of debt each person in Britain pays off on a monthly basis is £322. This is the equivalent to 25 per cent of the average monthly income for an adult, which stands at £1,288. It is believed that 334 people, every day of the year, will be declared insolvent or bankrupt - the equivalent to 1 person every 59 seconds during a working day.

Emma continues: "It's really important to be well informed about personal credit rating and actively working towards having manageable debts. Sometimes a bad score can be easily prevented or improved. The first step to take is to request a copy of your credit report so you can see how you're rated."

Consumers can test their credit knowledge by visiting the What is Credit Rating? quiz page on the aqua card website.

For more information on how to repair bad credit visit aquacard.co.uk.